Conclusion of annexes to credit agreements with BRE Bank SA

On 15 March 2010 Stalprofil SA became aware of signing by BRE Bank SA in Warsaw, division in Katowice, of two annexes to credit agreements, prolonging for another year validity period of credit lines used by the issuer to finance its current business.

Following the conclusion of the annexes Stalprofil SA may use the credit limit at BRE Bank SA for a total of 35 million PLN, including:
- revolving loan in the amount of 19.7 million PLN until 18 March 2011,
- multicurrency credit overdraft in the amount of 11 million PLN until 18 March 2011,
- letters of credit securing stand-by in the amount of 4.3 million PLN until April 15, 2010.
The company has the ability to increase the revolving credit limit to the amount of 24 million PLN after expiry of securing letters of credit stand-by.
The company consideres the agreements as significant, as their total value exceeds 10% of equity of the issuer.

Financial conditions under which the Company will benefit from the allocated limits are not different from commonly used for such agreements and are based on the WIBOR rate + bank margin.

The basic legal protection of the credit limit, established for the benefit of BRE Bank SA, is registered pledge on the commercial goods owned by Stalprofil SA with a total net value of 31 million PLN and assignment of debts owed to Stalprofil SA from commercial contracts with an estimated value of 6 million PLN.
Assets, which establish a limited right in rem to the Bank, the company considers significant because their value exceeds 1 million euro.